Insurance Companies!

[pilot5]

I know everybody hates to pay insurance, the big fire we had here in Quebec almost leveled a few companies and fried 14 helicopters into piles of molten metal . Luckily we unlike some where insured through Marsh and Gcan. We where the first to get paid for our loss and we even got the personailzed service of a visit from the the underwriter much to our surprise.

 

Even today most of the losses have not been paid, 60 days after the event, people are still waiting and this has an effect on the ability for most to replace Aircraft and carry on. This will have a negative effect on cash flow.

 

So out of the whole experience, at least we learned who not to insure our birds with.

 

A big thanks to Marsh and Gcan for pulling through quickly.

 

P5

 

 

[helijoe]

you are extermely fortunate. I had a fire two years ago and marsh was the carrier. they did everything they could not to pay. took about 2 years to get the payput and we had to hire an outside adjuster to fight marsh. We won but it cost 17.55% of the payout. But without the outside adjusting firm we would of barely got half. Only one thing to remember the insurance company is there to protect their interests and maximize profits.

[shakey]

you are extermely fortunate. I had a fire two years ago and marsh was the carrier. they did everything they could not to pay. took about 2 years to get the payput and we had to hire an outside adjuster to fight marsh. We won but it cost 17.55% of the payout. But without the outside adjusting firm we would of barely got half. Only one thing to remember the insurance company is there to protect their interests and maximize profits.

 

And throw great parties at HAC on your dime.

 

[Petit-Lion]

Fire: 11, January 2010. All the paperwork processed since weeks. Still waiting for the payment, like several others.

 

Not sure if this is the right place, but I think it would be a good idea to start a crying topic for everybody who had to wait unusually long to get paid after a loss... Would be informative for anybody having to choose an insurer and a broker!

[Petit-Lion]

The cheque finally arrived April 1st (no joke). 80 days after the fire. Amount as per policy. Insurer: Lloyd's. Broker: IMAGE.